Nvidia (NASDAQ: NVDA) stock is getting hit hard in Tuesday's trading. The semiconductor company's share price was down 8.7% as of 2:15 p.m. ET, according to data from S&P Global Market Intelligence.

The artificial intelligence (AI) leader's share price is falling in response to rising concerns about the health of the U.S. economy. News out of China and other geopolitical dynamics are also prompting sell-offs for Nvidia and other chip stocks today.

The U.S. Department of Labor is expected to release its latest employment data on Friday, and Wall Street is seeing an uptick in bearish sentiment ahead of the report. Investors have been looking forward to interest-rate cuts that are expected to be delivered by the Federal Reserve this month, and the rate reduction could be larger than many analysts initially expected. But there's a catch.

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Source Fool.com